§ Mr. Jannerasked the Chancellor of the Exchequer whether he has plans to withdraw the £1 note from circulation; what he expects to be the fall in £1 notes in circulation in 1983 and during the next year, two years, three years, four years and five years, respectively; and whether he has plans to issue a £2 note.
§ Mr. Ian StewartIt has always been the Government's intention to withdraw the £1 note from circulation in due course once the public have had time to become accustomed to the £1 coin. The fall in circulation of £1 notes in 1983, so far, has been about 50 million. The fall in circulation in future years would depend on when the £1 note ceases to be issued. There are no plans to issue a £2 note.